We get htis a lot on our site the answer to Pros And Cons Of Etoro….Questions that i speak with new investors what if you’re brand new to investing you just don’t want to decide what you in fact want to invest and you want somebody to do it for you there’s only a couple of manner ins which that can happen the to start with you can work with a financial investment portfolio manager they’ll normally charge a quite a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds specific funds are developed once again with an account manager in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios also now if you’re brand new to a total please remember this platform is quite advanced you can do cfds which of course cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this specific video we’re discussing how to copy other people’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that person has actually said they have actually made earnings 14 months in a row buy these choices because you believe is the right ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
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popular for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really critical you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge sites then may not charge you for actually buying and selling etfs or funds individual commodities private stocks.
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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and lastly some best guidance finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs truly essential to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those options that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends totally how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact providing you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say offer me us dollars rather you need to pay their charges now the fantastic aspect of however when you’ve transformed your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their site won’t certainly restrict you in any way however we have to understand two other charges the very first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you
on is generally the difference that is part of the financial investment platform in between the buy price and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really indicates that when you want to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the existing cost of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll discover this all over this is another manner in which they make a small amount of benefit from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you state alright well why does that happen it simply does that is the nature of a great deal of platforms out there there’s a difference in between if you’re buying it then you want to offer it and that is how they make a little bit of money on those spread charges it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment company will once again make a bit money now the last task is called an
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over night cost now this is actually crucial if you’re in fact using cfds yourself too an overnight fee is when you’re refraining from doing that buy offer deal in the exact same day alright there’s then an over night fee charged and even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which implies you’re in fact buying the precise asset instead of using utilize anyway you will not get hit with these costs but these costs are if you’re using utilize and cfds and after that you’re going to have these fees if you’re not buy selling in the same day so let’s say if you enter into the assistance section this isn’t the over night charges info you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which just uses as i stated to cfds there are some additional charges obviously depending upon what you are buying also this is on your own so keep that in mind but full costs are entirely within their help information alright and we talked about in addition to free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually stated copy trading and copy portfolios are 2 various methods of really using these copy operates they don’t have any additional costs on top of the typical fees that
exist now what you need to bear in mind though is these potentially managed by other individuals completely or often have actually produced portfolios you’ve got a real person doing the management you need to make sure you pick the individual that’s right for you much like any type of work this is your financial assets so we definitely require to make certain it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio mimic as if you are utilizing your own money however actually purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine cash perhaps this is an excellent alternative for you again to test the theories alright you might want to buy tesla or apple or this etf why not utilize the virtual choice as a way to sort of safe play with it clearly you might have missed out on gains and losses throughout that time naturally if you had invested your genuine cash it allows you to develop confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my genuine portfolio here now we’re going to deep dive actually how to copy individuals and copy portfolios now here’s something to bear in mind before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your danger profile is now what do i imply by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just indicates am i all right with potentially losing a great amount of this investment or acquiring as
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well now keep in mind whatever is ups and downs you will earn money you’ll lose cash that’s why they make the figure 75 individuals will lose cash however that similarly implies they’ll lose at some time in their journey certainly individuals do make money also and i’ve got videos all about how you can ensure you are among individuals to really make money but in this circumstance make sure you research your danger level would you be fine giving your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not select somebody who’s totally into crypto or currency conversion think about it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact utilize this too actually easily over here you can copy individuals now it will give you a great deal of choices and you can utilize the system to really look for someone that you elegant actually following so let’s see maybe we want someone from unified kingdom um who buys let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can find everybody who has actually met that criteria and it does offer you a risk element also so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of people that have rather high returns
remember it’s like anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to validate are you fine with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like kind of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is good so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s also got a bit more um of the type of main food business and you’ve got you understand pharmaceutical and production business as that. Pros And Cons Of Etoro.
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